Germany Energy Storage Market - Growth, Trends, and Forecasts (2020-2025)

The Germany Energy Storage Market is Segmented by Type (Batteries, Pumped-Storage Hydroelectricity (PSH), Thermal Energy Storage (TES), Other Types) and Application (Residential, Commercial and Industrial).

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

10 %

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Market Overview

The energy storage market in Germany is expected to witness a CAGR of more than 10% during the forecast period. Factors, such as the increasing share of renewables in the electricity generation mix, a decline in the cost of storage batteries and solar photovoltaic panels, supportive government policies like low-interest rates on loans, and investment grants on battery systems, are driving the Germany energy storage market. On the other hand, the problem of creating adequate and intelligent power grids across the country to harness and store the growing renewable energy is still a challenge that is expected to hinder the growth of the market studied.

The primary driver of battery storage in the country is the sharp price decline of lithium-ion batteries due to their extensive use in consumer electronics and the increasing number of electric cars.

There are over 209 colocation data centers in 40 areas in Germany that use lead-acid batteries, which are the commonly used energy storage systems in data centers. Also, Germany is planning to install 30 GW offshore wind energy turbines that will require large-scale energy storage systems, creating a vast opportunity for companies in the coming years.

Several public and private initiatives in the country are cooperating for the development of energy storage technologies. The federal government is making PV battery system investment very attractive through the provision of unique incentives, including low-interest rates on loans and investment grants.

Scope of the report

The Germany energy storage market report includes:

Type
Batteries
Pumped-Storage Hydroelectricity (PSH)
Thermal Energy Storage (TES)
Other Types
Application
Residential
Commercial and Industrial

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Key Market Trends

Battery Systems for Storage of Renewable Energy to Witness Significant Growth

  • The deployment of the battery energy storage system is anticipated to increase in the coming years, due to the changes in the power sector. A seven-fold increase in large battery storage from 54 MW in 2016 to 371 MW in 2018 was witnessed.
  • With declining costs of lithium-ion batteries, the demand for batteries registered a substantial rise both for residential and commercial use, especially in the electronics industry and vehicle market. Battery costs have more than halved in the country, and this trend is expected to continue in the coming years.
  • In June 2018, Germany became the host to Europe’s largest battery energy storage system, of 50 MWh capacity. On the other hand, owing to the fall in the PV system and battery costs, the market for energy storage gathered pace in the country. By mid-2018, around 100,000 households and commercial operations had already installed PV battery systems in the country.
  • With more than 45,000 MW solar capacity and more than 60,000 wind energy capacity in 2018, the requirement of a storage system is expected to thrive in the forecast period.

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Upcoming Projects and Government Initiatives to Drive the Market

  • The energy storage market in Germany experienced a massive boost in recent years, majorly due to the country’s ambitious energy transition project – “Energiewende.” The boom in batteries and other storage technologies is expected to have a profound impact on Germany’s energy transition.
  • To support the demand for storage systems and renewable energy, the government is making the solar PV battery systems investment very attractive through low-interest rates and investment grants. Residential energy storage systems were reported to reach more than 60,000 by the end of 2019.
  • A major German utility and automation company, Steag, inaugurated the 90 MW energy storage system, one of the largest of its kind in the country. The project consisted of six 15 MW Nidec ASI storage systems, with an investment of USD 100 million.
  • In February 2018, Enel signed an agreement with the German wind energy company, Enertrag AG, and Swiss energy storage solutions company, Leclanché SA, to build and manage a 22 MW lithium-ion battery storage plant in Cremzow in the German state of Brandenburg. The project is Enel’s first storage plant in Germany, and its construction is expected to involve an investment of around EUR 17 million.
  • With Germany’s aim of 65% renewable share by 2030, the demand for energy storage is expected to increase at a considerable rate during the forecast period.

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Competitive Landscape

The German energy storage market is partially consolidated. Some of the major companies include Enel SpA, Renewable Energy Systems Ltd, STEAG GmbH, and Fraunhofer-Gesellschaf, Redt Energy PLC.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTEL Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Batteries

      2. 5.1.2 Pumped-Storage Hydroelectricity (PSH)

      3. 5.1.3 Thermal Energy Storage (TES)

      4. 5.1.4 Other Types

    2. 5.2 Application

      1. 5.2.1 Residential

      2. 5.2.2 Commercial and Industrial

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Enel SpA

      2. 6.3.2 Renewable Energy Systems Ltd

      3. 6.3.3 STEAG GmbH

      4. 6.3.4 Fraunhofer-Gesellschaf

      5. 6.3.5 Redt Energy PLC

      6. 6.3.6 Sungrow Power Supply Co. Ltd

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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